The rapidly growing number of cancer cases around the world have inflated the demand in global radiation therapy market. In September 2018, World Health Organization stated that cancer was the second leading cause of death globally, with an estimated 9.6 million deaths in 2018. Dietary and behavioral risks such as high body mass index, low fruit and vegetable intake, lack of physical activity, substance addiction and others are contributing towards this high prevalence of cancer. Doctors recommend radiation therapy for cancer at different stages. Radiation therapy helps to reduce the size of a tumor before surgery or kill remaining cancer cells afterward. It damages cancerous cells by destroying the genetic material that controls how cells grow and divide. Thus, the high prevalence of cancer is propelling the growth of global radiation therapy market.
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The cancer treatment medical facilities throughout the world are impacted with the COVID-19 pandemic. This has led to delaying of all the non-vital surgeries to avoid infection and focus maximum resources on COVID-19. The cancer patients with delayed surgeries are adopting radiation therapy to stop the further growth of tumor. Also, as the lockdowns imposed to contain the spread of pandemic are eased by government authorities, these medical facilities are reopening with precautionary measures in place to avoid infection for catering the cancer patients with delayed radiation therapy treatments. These factors are anticipated to fuel the growth of global radiation therapy market.
In terms of revenue, global radiation therapy market was valued at US$ 5506.01 Mn in 2018 and is anticipated to grow at a CAGR of 6.4% over the forecast period. The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
The detailed research study provides qualitative and quantitative analysis of radiation therapy market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
- The global radiation therapy market was valued at US$ 5506.01 Mn in 2018 and is anticipated to witness a compound annual growth rate of 6.4% over the forecast period owing to the rise in adoption of digital radiation therapy equipment.
- Based on application, lung cancer dominated the global radiation therapy market in 2018 due to the growing addiction of tobacco, air pollutions and other such factors which have heightened lung cancer cases.
- Hospitals held significant share of global radiation therapy market in 2018 due to their expenditure power on purchasing, operating and maintaining radiotherapy equipment.
- North America held the highest market share in global radiation therapy market in 2018. The high presence of elderly and obese populations in the region has inflated the incidence rate of cancers, thus, creating demand for radiation therapy and attracted investments from various hospitals and companies for advancing technologies. Asia Pacific is expected to register the highest growth rate over the period of next eight years.
- Some of the players operating in the radiation therapy market are Accuray Incorporated, Elekta AB, Hitachi, Ltd, IBA Worldwide, IntraOp Medical, Inc., Mevion Medical Systems., Nordion (Canada) Inc., Panacea Medical Technologies Pvt. Ltd, Provision Healthcare, Radiology Oncology Systems, Sensus Healthcare, Varian Medical Systems, Inc., VIEWRAY TECHNOLOGIES, INC. and ZEISS Medical Technology amongst others.
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Global Radiation Therapy Market:
- By Offering
- Products/Equipment
- Imaging Systems
- Linear Accelerator
- Radio Therapy Simulators
- Radioactive Seeds
- Applicators & Afterloaders
- Others
- Services
- Implementation and Installation
- Training and Education
- Support Services
- Others
- By Therapy Type
- External Beam Radiation Therapy
- 3-D Conformal Radiation Therapy (3D CRT)
- Intensity-Modulated Radiation Therapy (IMRT)
- Image-Guided Radiation Therapy (IGRT)
- Stereotactic Body Radiation Therapy
- Volumetric Modulated Arc Therapy (VMAT)
- Others
- Internal Beam Radiation Therapy
- Brachytherapy Treatment
- Low-dose rate (LDR) Brachytherapy
- High-dose rate (HDR) Brachytherapy
- Systemic Radiation Therapy
- Radioimmunotherapy (RIT)
- Others
- By Application
- Breast Cancer
- Eye Cancer
- Prostate Cancer
- Cervix Cancer
- Lung Cancer
- Head and Neck Cancer
- Colorectal Cancer
- Penile Cancer
- Intracranial Cancer
- Pancreatic Cancer
- Vaginal Cancer
- Others
- By End User
- Hospitals
- Clinics
- Specialty Cancer Centers
- Others
- By Region
- North America
- U.S
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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